Those eligible for equity redemptions are encouraged to contact Staehnke at Mid-Valley.
Nearly 270 eligible patrons of Mid-Valley Grain Cooperative will share in the distribution of $3.2 million in cash patronage and equity during 2012 based on business they’ve conducted with the company.
“We’re extremely proud that we can provide this tremendous return to our customers and owners,” said Robert Staehnke, general manager. “Through their ownership in a cooperative like Mid-Valley Grain Cooperative, not only do they have access to products and services, they also share in our success and that of the integrated CHS system. This enables all of us to invest in the future of our local products, this business and our community.”
Mid-Valley Grain Cooperative is a locally controlled division of CHS Inc., the nation’s leading producer-owned cooperative.
During 2012, Mid-Valley Grain Cooperative will allocate a total of $3.2 million in patronage dividends to its eligible customers based on business done Sept. 1, 2010 – Aug. 31, 2011, of which $1.2 million is being paid out in cash.
Overall, CHS expects to return up to a record $421 million during its 2012 fiscal year in cash patronage, equity redemptions and dividends paid on preferred stock to more than 1,060 eligible cooperatives and nearly 45,500 individual members and others in 50 states. CHS net income for its fiscal year ending Aug. 31, 2011, was $961.4 million. Patronage is based on business done with CHS during fiscal 2011, while equity redemptions represent retirement of ownership in CHS earned in past years. Since it was established in 1998, CHS has returned more than $2.5 billion in cash to its owners.
If they have not already done so, individuals who have reached age 70 and representatives of the estates of deceased members are encouraged to contact Robert Staehnke and request redemption of their equity. CHS makes equity redemptions to eligible individual direct members throughout the year, based on attaining age 70 or estate retirements, but potentially eligible individuals must initiate contact.